Commercial real estate is all about location. To generate profit, a commercial space needs to be located in areas with people, jobs, and any other opportunities. This is why a high concentration of commercial real estate can be seen in urbanized cities and developed suburbs. If you are looking for commercial real estate for sale in Prince William County, VA we can help.
Commercial real estate is most commonly used by businesses as office space, warehouse building for storage, and retail shops like we see in malls and shopping centers.
The growth of these commercial properties rely heavily on an area’s economy and population. A healthy economy attracts people and creates opportunities as well as elevates the public amenities in an area like transportation.
Buying Business Property in Prince William County, VA
If you are thinking of buying business property in Virginia, one place you could try venturing is Prince William, VA. Prince William County has almost 470,000 people according to the 2019 Report of the United States Census Bureau. It’s strategically located just 20 minutes away from the capital and also offers access to two US interstates and 3 airports. Also, the industrial properties such as Flex Warehouses for lease in Prince William County is at a very high demand.
Prince William, VA also boasts a vibrant, healthy, and diversified economy. Its key industries include the following:
- Life Sciences and Biotechnology
- Information Communication Technology
- Specialized Logistics and Supply Chain
- Government Contractors and Corporate Facilities
- Small Business and Entrepreneurs
- Revitalization and Redevelopment
As you can see, Prince William’s strategic location and key industries make it the perfect spot for commercial real estate to flourish. And even amidst the pandemic, Prince William continues to enjoy a healthy economy.
But of course, it’s undeniable that there were still affected businesses. And this pandemic has raised concern whether buying business property is a profitable move. Also, we get a lot of request from owners on “how to sell my commercial property”. Some are also inquiring about putting up their properties for rent, the current commercial property prices, and the concept of flipping commercial real estate for redevelopment.
But before we take a dive into these things, let’s first define commercial real estate.
What is commercial real estate?
A commercial real estate is any property that gains profit. For example office space commercial, retail office space, fully furnished office, warehouse office space, and warehouse buildings. Even empty lots or vacant premises can be counted as commercial real estate.
There are different types of commercial properties but here are the three most common that you would most likely hear.
One is office space. We are all very familiar with this commercial space. With the diverse industries in Prince William, there are a lot of these office spaces. Class A office space is more common among corporate businesses. This includes a fully furnished office complete with top of the line amenities. But the pandemic has definitely affected these as business continued to lay off people and put the remaining ones under a work from home setup.
There’s also the mid-level Class B building which is described by many as a dated Class A space. This has been thriving amidst the pandemic as it’s a more affordable option. It can also be rented for specific schedules as coworking spaces.
Lastly is the Class C office space which is more common among start-up businesses, since they don’t require much from a commercial space, just sufficient enough to support their daily activities and transactions. This is also the most affordable option out of the 3 classes.
Then you have retail commercial real estate which consists of establishments which are built and developed for shopping and entertainment purposes. Along with office space, retail is also currently suffering from the economic downturn caused by the pandemic.
Lastly, we have the industrial commercial real estate which is included under e-commerce, logistics, and supply chain industries. It includes warehouse buildings and large warehouses for distribution centers. These are mainly used for heavy manufacturing and storage facilities.
Businesses and companies that own these commercial real estate often lease or rent the space. You can often find these properties posted on commercial real estate sites like loopnet.com.
Is commercial real estate still profitable?
There are commercial shops for lease, daycare space for lease, office warehouse for rent, business property for lease just to name a few.
Currently, Prince William, VA has a number of industrial properties for sale while there are only a few for lease.
This largely depends on the type of commercial space that you are aiming for. But if you are venturing in Prince William, VA then industrial commercial real estate should be one of your options.
Especially now that e-commerce is on the rise and building up on the fact that Prince William County is actively supporting this industry, it would be a really good investment.
These warehouse buildings are currently on sale and also available for rent.
Let us help you find and negotiate your next deal with any size property here in Prince William, VA. Currently, there are a number of warehouse units for sale. The cost of warehouse space generally depends on the size.
It starts at 1,000 square feet warehouse up to 10,000 square feet warehouse.
But before you charge ahead and take on the challenge, it’s best to hire top commercial real estate brokers or commercial property estate agents. They are the most knowledgeable people in the field. They can assure a profitable return from your property investments and help you throughout the whole process.
Whether you’re a buyer or a seller, you will be putting yourself in an advantageous position if you consulted with top commercial real estate brokers or commercial property estate agents.
How to rent, sell, or buy commercial real estate?
According to industry experts, transactions for commercial real estate are more complicated than residential ones. That is why the best way to handle leasing, selling, or buying any commercial property is to get help from top commercial real estate brokers or commercial property estate agents.
Besides the fact that they can ensure the best deal for you, one of the main advantages of having them is a wide network of contacts. With that, you can easily find, communicate, and negotiate with a potential buyer or seller.